With global trade improving in 2017 after a period of recession in 2015/2016, it was expected that this trend would continue, according to the International Monetary Fund (IMF) and the World Trade Organization (WTO). With this general upsurge in trade including growth in imports, countries are improving their port facilities or adding new facilities. There is substantial investment in the World Bank’s formerly classified ‘developing countries’, including India, Malaysia, Indonesia, Bangladesh and Mozambique, which are all included in the top ten for project value. China, the leader in world trade, has less investment than its near neighbors due to over-capacity in its port facilities and the dip in world trade in recent years.
Publisher’s Construction Intelligence Center (CIC) is tracking global port projects with a value of US$461.1 billion. Asia-Pacific is leading investment in port facilities with a value of US$183.2 billion, followed by the Middle East and Africa with projects valued at US$122.6 billion. The Americas accounts for projects with a value of US$97.2billion, and Europe has the lowest value of projects with a value of US$58.1 billion. Six countries in the top ten for investment in ports are in the Asia-Pacific region, while two are from the Americas, one is from Africa, and Russia represents Europe.